Capstone Receives $2.03 Million Order from Samsung C&T Corporation
Capstone Turbine Corporation (www.microturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it has received an order valued at $2.03 million from Samsung C&T Corporation, its distributor in South Korea. The order is for Capstone's C65, C65 Combined Heat & Power (CHP) and Resource Recovery biogas MicroTurbine(R) systems.
Samsung C&T Corporation, the origin of the Samsung Group, is renowned for a vast range of business activities and is also engaged in energy services management for commercial and industrial customers throughout South Korea. Previous Capstone microturbines shipped to Samsung have been installed in CHP and resource recovery applications.
Since its founding in 1938, Samsung's management philosophy has been to devote human resources and technology to create superior products and services, thereby contributing to a better global society. Samsung is actively involved in community activities and in developing environmentally friendly products and related technologies. Several environmental preservation programs exist at Samsung establishments around the world.
"This order builds further momentum for us in Asia," said Jim Crouse, Capstone's Executive Vice President, Sales and Marketing. "Capstone is pleased to be partnered with Samsung which is a tremendous brand and a world-class business," added Crouse.
"South Korea is among the world's most technologically and scientifically advanced nations and continues to enjoy a growing economy," said Darren Jamison, President and CEO of Capstone Turbine Corporation. "Thus, we are very pleased that after much evaluation, Samsung C&T Corporation continues to distribute and install Capstone microturbines," added Jamison.
"We have installed Capstone microturbines in previous applications and we have been impressed by the systems' fuel efficiency, reliability and environmental advantages," said Mr. Y.K. Choi, Vice President of Samsung C&T Corporation. "Capstone Turbine Corporation continues to be the leader in this technology and we look forward to our continued working relationship in the future," added Mr. Steve Cho, Samsung's General Manager.
About Capstone Turbine
Capstone Turbine Corporation (www.microturbine.com) (NASDAQ:CPST) is the world's leading producer of low-emission microturbine systems, and was the first to market commercially viable microturbine energy products. Capstone Turbine has shipped over 4,000 Capstone MicroTurbine(R) systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone Turbine is a member of the U.S. Environmental Protection Agency's Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation's energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2000 certified company; Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New York, Mexico City, Milan, Bath, Shanghai and Tokyo.
"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about new sales opportunities for Capstone, in particular, in the CHP & resource recovery applications and a successful working relationship between Samsung and Capstone. Forward-looking statements may be identified by words such as "expects," "objective," "intend," "targeted," "plan" and similar phrases. These forward-looking statements are subject to numerous assumptions, risks and uncertainties described in Capstone's filings with the Securities and Exchange Commission that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. Capstone cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Capstone undertakes no obligation, and specifically disclaims any obligation, to release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
Source: Capstone Turbine Corporation
Released April 10, 2008